Echostar Corp Stock Price, News & Analysis

EchoStar Corporation (NASDAQ: SATS) reported financial results for Q1 2021 with consolidated revenues of $482.6 million and net income of $77.6 million. Year-over-year comparisons show a 3.6% revenue increase driven by higher broadband service sales, despite a $5.9 million negative foreign exchange impact. Adjusted EBITDA surged 25% to $185.7 million, mainly due to increased gross margins and reduced administrative expenses. Hughes broadband subscribers total approximately 1.55 million, with a decline of 25,000 in the U.S., while Latin America saw an increase of 14,000.

Hughes Network Systems and OneWeb have been selected by the U.S. Air Force Research Lab to demonstrate managed Low Earth Orbit (LEO) satellite communications services connecting the Arctic region with global sites. This partnership aims to enhance high-speed, low-latency broadband access in areas previously lacking connectivity. Hughes will lead the adaptation and management of this service using OneWeb's satellite system, which includes user terminal development by Intellian. This initiative supports U.S. military operations and is part of the Defense Experimentation Using the Commercial Space Internet program.

EchoStar Corporation (NASDAQ: SATS) will conduct a conference call on May 6, 2021, at 11:00 a.m. ET to discuss its first quarter financial results. The call will be streamed live on the company's investor relations website, and a replay will be available post-call. Investors can access the financial results press release on EchoStar's website before the call. EchoStar is recognized for its innovative satellite communication solutions through its segments, Hughes Network Systems and EchoStar Satellite Services.

Hughes Network Systems, a leader in multi-transport technologies, was awarded Fortinet's Service Provider Partner of the Year for its HughesON Managed Network Services, particularly its SD-WAN solution. This accolade, announced at Fortinet's Accelerate 2021 conference, recognizes Hughes' notable growth and commitment to delivering reliable and secure networks. Hughes has integrated over 63,000 Fortinet devices across its network deployments, enhancing performance and security. The award reflects Hughes' successful collaboration with Fortinet, contributing to high customer satisfaction and service excellence.

Hughes Network Systems announced an increase in satellite capacity for HughesNet in Puerto Rico, aimed at improving service for existing customers and reaching more potential users. This enhancement is crucial due to the rising need for reliable internet access following the pandemic and natural disasters affecting the area. HughesNet, recently recognized as the Best Satellite Internet Provider of 2021, currently connects over 1.5 million subscribers across the Americas, providing broadband services in hard-to-reach locations.

EchoStar Corporation (NASDAQ: SATS) reported financial results for the year ending December 31, 2020. Consolidated revenues reached $489.3 million for Q4 2020, with a net loss of $2.6 million. For the full year, revenues totaled $1,887.9 million, with a net loss of $51.9 million. Adjusted EBITDA for Q4 was $166.7 million, up 7.0% year-over-year, while total Adjusted EBITDA for the year stood at $642.9 million. The company experienced a decline in subscriber numbers in the U.S., but subscriber growth in Latin America provided some offset.

EchoStar Corporation (NASDAQ: SATS) has announced a conference call on February 23 at 11:00 a.m. ET to discuss its Q4 and full-year 2020 financial results. The live webcast will be accessible on their investor relations website, with a replay available for two days after the call. This event will include a press release detailing financial outcomes prior to the call. EchoStar is a leading provider of satellite communication solutions operating globally, known for its secure communication technologies.

COMSovereign Holding Corp. (NASDAQ: COMS) announced a reseller agreement with Hughes Network Systems (NASDAQ: SATS) to integrate VNC's RAID 4G/LTE communication solution into Hughes' SatCell Connect service. This partnership aims to provide portable, secure, and rapidly deployable communication capabilities for emergency response and remote operations. The RAID system enhances wireless connectivity through satellite backhaul, ensuring 4G and upcoming 5G services are available even in areas lacking infrastructure.